Common use of Determination of EURIBOR Clause in Contracts

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, the Calculation Agent shall request the principal Euro-zone office of each of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro to leading European banks, having the Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraph, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 2 contracts

Samples: Quebec, Quebec

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Determination of EURIBOR. If the Interest Rate Basis specified above is EURIBOR, the interest rate payable with respect to this Note shall equal will be EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior specified above. “EURIBOR” means, with respect to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be Rate, the rate for deposits in euro Euros as sponsored, calculated and published jointly by the European Banking Federation and ACI-The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereofabove, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) as of 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate appears on Reuters Page EURIBOR01, or is not so appearspublished by 11:00 a.m., EURIBOR Brussels time, on such EURIBOR Interest Determination Date shall be determined in accordance with Date, the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, calculated by the Calculation Agent shall request as the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone office of each (as defined below) offices of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by in the Calculation AgentEuropean interbank market, to provide the Calculation Agent with its offered quotation for deposits in euro Euros for the period of the Index Maturity specified on the face hereof, above commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If at least ; or if fewer than two such quotations are so provided, then EURIBOR the rate on such EURIBOR Interest Determination Date shall will be calculated by the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall Calculation Agent and will be the arithmetic mean of the rates quoted at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro Euro to leading European banks, having the Index Maturity specified on the face hereofabove, commencing on that the applicable Interest Reset Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If ; or if the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphabove, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR the applicable Interest Determination Date.

Appears in 2 contracts

Samples: Paccar Financial Corp, Paccar Inc

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall will be determined, determined as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR Interest Determination Date”). EURIBOR on any each EURIBOR Interest Determination Date shall will be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 EURIBOR#01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01EURIBOR#01”) as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall will be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 EURIBOR#01 as specified in the paragraph above, the Calculation Agent shall will request the principal Euro-zone office of each of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 U.S.$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall will be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall will be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include the Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro to leading European banks, having the Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 U.S.$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraph, EURIBOR determined as of such EURIBOR Interest Determination Date shall will be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 1 contract

Samples: Quebec

Determination of EURIBOR. If the Interest Rate Basis specified above is EURIBOR, the interest rate payable with respect to this Note shall equal will be EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior specified above. “EURIBOR” means, with respect to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be Rate, the rate for deposits in euro Euros as sponsored, calculated and published jointly by the European Banking Federation and ACI-The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereofabove, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) as of 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate appears on Reuters Page EURIBOR01, or is not so appearspublished by 11:00 a.m., EURIBOR Brussels time, on such EURIBOR Interest Determination Date shall be determined in accordance with Date, the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, calculated by the Calculation Agent shall request as the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone office of each (as defined below) offices of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro Euros for the period of the Index Maturity specified on the face hereof, above commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If at least ; or if fewer than two such quotations are so provided, then EURIBOR the rate on such EURIBOR Interest Determination Date shall will be calculated by the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall Calculation Agent and will be the arithmetic mean of the rates quoted at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro Euro to leading European banks, having the Index Maturity specified on the face hereofabove, commencing on that the applicable Interest Reset Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If ; or if the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphabove, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR the applicable Interest Determination Date.

Appears in 1 contract

Samples: Paccar Inc

Determination of EURIBOR. If the Interest Rate Basis is EURIBOREURIBOR means, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be , the rate for deposits in euro as sponsored, calculated calculated, and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity specified in the Pricing Supplement, as specified that rate appears on the face hereofdisplay on Reuters, commencing on the applicable Interest Reset Dateor any successor service, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) ), as of 11:00 A.M., Brussels time, . The following procedures will be followed if EURIBOR cannot be determined as described above: • If no offered rate appears on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR Reuters Page EURIBOR01 on such EURIBOR an Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph aboveat approximately 11:00 A.M., Brussels time, then the Calculation Agent shall request the principal Euro-zone office of each of Agent, after consultation with us, will select four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, market to provide a quotation of the Calculation Agent with its offered quotation for rate at which deposits in euro for the period of having the Index Maturity specified on in the face hereof, commencing on the applicable Interest Reset Date, Pricing Supplement are offered to prime banks in the Euro-zone interbank market at approximately 11:00 A.M.market, Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros €1,000,000, that is representative for of a single transaction in euro in such that market at such that time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall will be the arithmetic mean average of such those quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean Calculation Agent, after consultation with us, will select four major banks in the Euro-zone interbank market to provide a quotation of the rates quoted rate offered by them, at approximately 11:00 A.M., Brussels time, on such EURIBOR the Interest Determination Date by four major Date, for loans in euro to prime banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent interbank market for loans in euro a period of time equivalent to leading European banks, having the Index Maturity specified on in the face hereof, Pricing Supplement commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros €1,000,000, that is representative for of a single transaction in euro in such that market at such that time. If at least three quotations are provided, EURIBOR will be the banks so selected by the Calculation Agent arithmetic average of those quotations. • If three quotations are not quoting as mentioned in the foregoing paragraphprovided, EURIBOR determined as of such EURIBOR for that Interest Determination Date shall will be equal to EURIBOR in effect on such EURIBOR Interest Determination Datefor the immediately preceding interest period.

Appears in 1 contract

Samples: Global Agency Agreement (Bank of America Corp /De/)

Determination of EURIBOR. If the Interest Rate Basis specified above is EURIBOR, the interest rate payable with respect to this Note shall equal will be EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior specified above. “EURIBOR” means, with respect to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be Rate, the rate for deposits in euro euros as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereofabove, commencing on the applicable Interest Reset Date, that appears on Reuters on page Page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate appears on Reuters Page EURIBOR01, or is not so appearspublished by 11:00 A.M., EURIBOR Brussels time, on such EURIBOR Interest Determination Date shall be determined in accordance with Date, the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, calculated by the Calculation Agent shall request as the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone office of each (as defined below) offices of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, market to provide the Calculation Agent with its offered quotation for deposits in euro euros for the period of the Index Maturity specified on the face hereof, above commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 U.S $1 million in euros that is representative for a single transaction in euro euros in such market at such time. If at least ; or if fewer than two such quotations are so provided, then EURIBOR the rate on such EURIBOR Interest Determination Date shall will be calculated by the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall Calculation Agent and will be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro euros to leading European banks, having the Index Maturity specified on the face hereofabove, commencing on that the applicable Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 U.S. $1 million in euros that is representative for a single transaction in euro euros in such market at such time. If ; or if the banks so selected by the Calculation Agent Company are not quoting as mentioned in the foregoing paragraphabove, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR the applicable Interest Determination Date.

Appears in 1 contract

Samples: American Honda Finance Corp

Determination of EURIBOR. If the Interest Rate Basis specified above is EURIBOR, the interest rate payable with respect to this Note shall equal will be EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior specified above. “EURIBOR” means, with respect to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be Rate, the rate for deposits in euro Euros as sponsored, calculated and published jointly by the European Banking Federation and ACI-The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereofabove, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 (or any other page as may replace such that specified page on such service) that service (“Reuters Page EURIBOR01”) as of 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate appears on Reuters Page EURIBOR01, or is not so appearspublished by 11:00 a.m., EURIBOR Brussels time, on such EURIBOR Interest Determination Date shall be determined in accordance with Date, the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, calculated by the Calculation Agent shall request as the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone office of each (as defined below) offices of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as market (which may include affiliates of the agents for the sale of the Notes) selected by the Calculation AgentAgent after consultation with the Company, to provide the Calculation Agent with its offered quotation for deposits in euro Euros for the period of the Index Maturity specified on the face hereof, above commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If at least ; or if fewer than two such quotations are so provided, then EURIBOR the rate on such EURIBOR Interest Determination Date shall will be calculated by the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall Calculation Agent and will be the arithmetic mean of the rates quoted at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent after consultation with the Company for loans in euro Euro to leading European banks, having the Index Maturity specified on the face hereofabove, commencing on that the applicable Interest Reset Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If ; or if the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphabove, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR the applicable Interest Determination Date.

Appears in 1 contract

Samples: Paccar Financial Corp

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, the Calculation Agent shall request the principal Euro-zone office of each of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro to leading European banks, having the Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphabove, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 1 contract

Samples: Quebec

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Global Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determinedequal the offered rate, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a "EURIBOR Interest Determination Date"). EURIBOR , for deposits in euros for the period of the Index Maturity and commencing on any the second TARGET Settlement Day immediately following such EURIBOR Interest Determination Date shall be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, as that rate appears on Reuters on Telerate page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) 248 as of 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on for which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph aboveTelerate page 248, the Calculation Agent shall request will select the principal Euro-zone Zone (as defined below) office of each of four major reference banks in that market (which may include affiliates of the Agents or their affiliatesAgents) in the Euro-zone interbank market, as selected by the Calculation Agent, and request them to provide the Calculation Agent with its their offered quotation for euro deposits in euro for the period of the such Index Maturity specified on the face hereofMaturity, commencing on the applicable second TARGET Settlement Day immediately following such EURIBOR Interest Reset Determination Date, to prime banks in the Euro-zone interbank Zone inter-bank market at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro euros in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates quoted at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date by four three major banks (which may include Agents or their affiliates) in the Euro-zone Zone inter-bank market selected by the Calculation Agent (which may include affiliates of the Agents) for loans in euro euros to leading European banks, having for the period of such Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro euros in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphquoting, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 1 contract

Samples: Letter of Agreement (Financement Quebec)

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 EURIBOR#01 (or any other page as may replace such page on such service) (‘‘Reuters Page EURIBOR01”EURIBOR#01’’) as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 EURIBOR#01 as specified in the paragraph above, the Calculation Agent shall request the principal Euro-zone office of each of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro to leading European banks, having the Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraph, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 1 contract

Samples: Quebec

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Determination of EURIBOR. If the Interest Rate Basis is EURIBOREURIBOR means, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be , the rate for deposits in euro as sponsored, calculated calculated, and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity specified in the Pricing Supplement, as specified that rate appears on the face hereofdisplay on Reuters, commencing on the applicable Interest Reset Dateor any successor service, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) ), as of 11:00 A.M., Brussels time, . The following procedures will be followed if XXXXXXX cannot be determined as described above: • If no offered rate appears on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR Reuters Page EURIBOR01 on such EURIBOR an Interest Determination Date shall be determined in accordance at approximately 11:00 A.M., Brussels time, then the Calculation Agent, after consultation with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph aboveIssuer, the Calculation Agent shall request the principal Euro-zone office of each of will select four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, market to provide a quotation of the Calculation Agent with its offered quotation for rate at which deposits in euro for the period of having the Index Maturity specified on in the face hereof, commencing on the applicable Interest Reset Date, Pricing Supplement are offered to prime banks in the Euro-zone interbank market at approximately 11:00 A.M.market, Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros €1,000,000, that is representative for of a single transaction in euro in such that market at such that time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall XXXXXXX will be the arithmetic mean average of such those quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean Calculation Agent, after consultation with the Issuer, will select four major banks in the Euro-zone interbank market to provide a quotation of the rates quoted rate offered by them, at approximately 11:00 A.M., Brussels time, on such EURIBOR the Interest Determination Date by four major Date, for loans in euro to prime banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent interbank market for loans in euro a period of time equivalent to leading European banks, having the Index Maturity specified on in the face hereof, Pricing Supplement commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros €1,000,000, that is representative for of a single transaction in euro in such that market at such that time. If at least three quotations are provided, XXXXXXX will be the banks so selected by the Calculation Agent average of those quotations. • If three quotations are not quoting as mentioned in the foregoing paragraphprovided, EURIBOR determined as of such EURIBOR XXXXXXX for that Interest Determination Date shall will be equal to EURIBOR in effect on such EURIBOR Interest Determination Datefor the immediately preceding interest period.

Appears in 1 contract

Samples: BAC Capital Trust XX

Determination of EURIBOR. If the Interest Rate Basis specified above is EURIBOR, the interest rate payable with respect to this Note shall equal will be EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior specified above. “EURIBOR” means, with respect to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be Rate, the rate for deposits in euro Euros as sponsored, calculated and published jointly by the European Banking Federation and ACI-The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereofabove, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 (or any other page as may replace such that specified page on such service) that service (“Reuters Page EURIBOR01”) as of 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate appears on Reuters Page EURIBOR01, or is not so appearspublished by 11:00 a.m., EURIBOR Brussels time, on such EURIBOR Interest Determination Date shall be determined in accordance with Date, the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, calculated by the Calculation Agent shall request as the arithmetic mean of at least two quotations obtained by the Calculation Agent after requesting the principal Euro-zone office of each (as defined below) offices of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro Euros for the period of the Index Maturity specified on the face hereof, above commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If at least ; or if fewer than two such quotations are so provided, then EURIBOR the rate on such EURIBOR Interest Determination Date shall will be calculated by the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall Calculation Agent and will be the arithmetic mean of the rates quoted at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro Euro to leading European banks, having the Index Maturity specified on the face hereofabove, commencing on that the applicable Interest Reset Date and in a principal amount not less than the equivalent of US$United States $1,000,000 in euros Euros that is representative for a single transaction in euro Euros in such market at such time. If ; or if the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphabove, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR the applicable Interest Determination Date.

Appears in 1 contract

Samples: Paccar Financial Corp

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall will be determined, determined as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR Interest Determination Date”). EURIBOR on any each EURIBOR Interest Determination Date shall will be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, that appears on Reuters on page EURIBOR01 EURIBOR#01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01EURIBOR#01”) as of 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall will be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 EURIBOR#01 as specified in the paragraph above, the Calculation Agent shall will request the principal Euro-zone office of each of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall will be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall will be the arithmetic mean of the rates quoted at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent for loans in euro to leading European banks, having the Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraph, EURIBOR determined as of such EURIBOR Interest Determination Date shall will be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 1 contract

Samples: Quebec

Determination of EURIBOR. If the Interest Rate Basis is EURIBOR, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determinedequal the offered rate, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a "EURIBOR Interest Determination Date"). EURIBOR , for deposits in euros for the period of the Index Maturity and commencing on any the second TARGET Settlement Day immediately following such EURIBOR Interest Determination Date shall be the rate for deposits in euro as sponsored, calculated and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity as specified on the face hereof, commencing on the applicable Interest Reset Date, as that rate appears on Reuters on Telerate page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) 248 as of 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR on such EURIBOR Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on for which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph aboveTelerate page 248, the Calculation Agent shall request will select the principal Euro-zone Zone (as defined below) office of each of four major reference banks in that market (which may include affiliates of the Agents or their affiliatesAgents) in the Euro-zone interbank market, as selected by the Calculation Agent, and request them to provide the Calculation Agent with its their offered quotation for euro deposits in euro for the period of the such Index Maturity specified on the face hereofMaturity, commencing on the applicable second TARGET Settlement Day immediately following such EURIBOR Interest Reset Determination Date, to prime banks in the Euro-zone interbank Zone inter-bank market at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro euros in such market at such time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be calculated by the Calculation Agent and shall be the arithmetic mean of the rates quoted at approximately 11:00 A.M.a.m., Brussels time, on such EURIBOR Interest Determination Date by four three major banks (which may include Agents or their affiliates) in the Euro-zone Zone inter-bank market selected by the Calculation Agent (which may include affiliates of the Agents) for loans in euro euros to leading European banks, having for the period of such Index Maturity specified on the face hereof, commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros that is representative for a single transaction in euro euros in such market at such time. If the banks so selected by the Calculation Agent are not quoting as mentioned in the foregoing paragraphquoting, EURIBOR determined as of such EURIBOR Interest Determination Date shall be EURIBOR in effect on such EURIBOR Interest Determination Date.

Appears in 1 contract

Samples: Letter of Agreement (Financement Quebec)

Determination of EURIBOR. If the Interest Rate Basis is EURIBOREURIBOR means, the interest rate payable with respect to this Note shall equal EURIBOR determined as specified herein, plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any. EURIBOR for each Interest Reset Date shall be determined, as of the second TARGET Settlement Day (as defined below) prior to the Interest Reset Date (a “EURIBOR any Interest Determination Date”). EURIBOR on any EURIBOR Interest Determination Date shall be , the rate for deposits in euro as sponsored, calculated calculated, and published jointly by the European Banking Federation and ACI—The Financial Market Association, or any company established by the joint sponsors for purposes of compiling and publishing those rates, having the Index Maturity specified in the Pricing Supplement, as specified that rate appears on the face hereofdisplay on Reuters, commencing on the applicable Interest Reset Dateor any successor service, that appears on Reuters on page EURIBOR01 (or any other page as may replace such page on such service) (“Reuters Page EURIBOR01”) ), as of 11:00 A.M., Brussels time, . The following procedures will be followed if EURIBOR cannot be determined as described above: • If no offered rate appears on such EURIBOR Interest Determination Date; or if no such rate so appears, EURIBOR Reuters Page EURIBOR01 on such EURIBOR an Interest Determination Date shall be determined in accordance with the provisions described in the paragraphs below. With respect to a EURIBOR Interest Determination Date on which no rate appears on the Reuters Page EURIBOR01 as specified in the paragraph above, the Calculation Agent shall request the principal Euro-zone office of each of four major reference banks (which may include the Agents or their affiliates) in the Euro-zone interbank market, as selected by the Calculation Agent, to provide the Calculation Agent with its offered quotation for deposits in euro for the period of the Index Maturity specified on the face hereof, commencing on the applicable Interest Reset Date, to prime banks in the Euro-zone interbank market at approximately 11:00 A.M., Brussels time, on such EURIBOR Interest Determination Date then the Calculation Agent, after consultation with the Issuer, will select four major banks in the Eurozone interbank market to provide a quotation of the rate at which deposits in euro having the Index Maturity specified in the Pricing Supplement are offered to prime banks in the Eurozone interbank market, and in a principal amount not less than the equivalent of US$1,000,000 in euros €1,000,000, that is representative for of a single transaction in euro in such that market at such that time. If at least two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall will be the arithmetic mean average of such those quotations. If fewer than two such quotations are so provided, then EURIBOR on such EURIBOR Interest Determination Date shall be the arithmetic mean Calculation Agent, after consultation with the Issuer, will select four major banks in the Eurozone interbank market to provide a quotation of the rates quoted rate offered by them, at approximately 11:00 A.M., Brussels time, on such EURIBOR the Interest Determination Date by four major banks (which may include Agents or their affiliates) in the Euro-zone selected by the Calculation Agent Date, for loans in euro to leading European banks, having prime banks in the Eurozone interbank market for a period of time equivalent to the Index Maturity specified on in the face hereof, Pricing Supplement commencing on that Interest Reset Date and in a principal amount not less than the equivalent of US$1,000,000 in euros €1,000,000, that is representative for of a single transaction in euro in such that market at such that time. If at least three quotations are provided, EURIBOR will be the banks so selected by the Calculation Agent arithmetic average of those quotations. • If three quotations are not quoting as mentioned in the foregoing paragraphprovided, EURIBOR determined as of such EURIBOR for that Interest Determination Date shall will be equal to EURIBOR in effect on such EURIBOR Interest Determination Datefor the immediately preceding interest period.

Appears in 1 contract

Samples: Global Agency Agreement (Bank of America Corp /De/)

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